JMP Group Inc. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products and services to institutional investors and high net-worth individuals. It conducts its primary business activities through three wholly owned subsidiaries: JMP Securities LLC (JMP Securities), Harvest Capital Strategies LLC (HCS), and JMP Capital LLC. In January 2008, the Company and certain affiliated entities completed the acquisition of 1million shares of Series A Cumulative Redeemable Convertible preferred stock of New York Mortgage Trust, Inc. (NYMT), a real estate investment trust (REIT) engaged in the investment management of mortgage-backed securities and high credit quality residential adjustable rate mortgage loans